As you inch towards your 65th year, you become eligible for a Medicare National health insurance program plan which covers payment for some of your health issues. Original Medicare caters for part A inpatient medical cost and part B outpatient cost. However, Original Medicare basics do not cover all of a senior citizen’s medical costs, therefore the senior has to enroll for a Medicare supplement or Medicare Advantage plan.
When a senior enrolls for a Medicare Advantage part C plan, he chooses an all-in-one program that caters for most of his medical needs or pre-existing conditions as well as prescription drugs. A patient can not enroll for both a Medicare Supplement and a Medicare Advantage at the same time.
Also known as Medigap, there are several Medicare Supplement plans to choose from depending on your needs. These include plan F, plan G, plan N, and Plan F deductible high (check out the Aetna Plan G review by Bluewave insurance out). All these Medigap plans have some basic coverages in common such as hospital coverage, ability to see a doctor or specialist anywhere without a PCP or referral, part A deductible, and coinsurance, foreign travel insurance, etc.
There are several Medigap plans available with minor differences between each plan to ensure that it is customized to a patient’s needs. This way, you can choose a plan that allows you to cater for just what you need so you don’t have to pay more for services you don’t require. The Mutual of Omaha Medicare Supplement reviews explains in better detail, what Medicare supplement fully entails and the differences between the plans.
When you decide to enroll in a Medigap plan, you have to make one other important decision. There are a plethora of companies that offer a Medigap plan and although, there is usually a regulated stipulation for what each plan, regardless of the insurance company, covers for a patient. However, the rates offered by your insurance carrier are not regulated. Many insurance companies also offer additional benefits and discounts such as gym and fitness membership to members. In this article, we talk about 3 important considerations for selecting your Medigap insurance carrier.
Carrier History
When you want to enroll for your Medigap or perhaps, you have even chosen your plan, you would have done your initial research, checking what additional benefits accrue to you differently from other companies and how your plan fits best with your current health situation and needs. However, regardless of what an insurance company currently offers you, it is very important to do sufficient research on the Insurance carrier history before enrolling with them.
You should check the reviews of the insurance carrier and what past subscribers have to say about them. An insurance carrier’s reputability matters so much when considering whether to use them and much of what you can know of their reputability is in their history. You should also check their network of subscribers and why most people choose them!
Rate Stability
Another thing to consider when choosing an insurance carrier is their rate stability. It is important to understand how much exactly you’re paying for which coverages including deductibles and coinsurances. Check out this Medicare supplement guide to have an idea of what rates you may be charged and for everything else you need to know about Medigap.
Some insurance carriers offer you a really good rate, in the beginning, only to add hidden charges once you enroll or change their rates as time goes on. You have to check their past rates to ensure that they have been stable as well as their coverage and offers. Doing some research on their history may also reveal a bit about their rates and how stable it has been.
Customer Service
The last thing you need to consider before selecting your Medigap insurance carrier is their customer service. Some insurance companies offer personalized customer service who is helpful and attentive to your needs 24/7. You can easily imagine how that is more desirable than a company that doesn’t particularly care for the quality of its customer service.
Selecting an insurance company for your Medigap may be a tad bit stressful, make sure you check all of these factors when selecting your Medigap insurer to ensure you are making the right choice.
